USDCAD 4h, After NFP release USDCAD has changed it's uptrend to downtrend on the lower timeframe. As the price has broken down with a strong momentum, currently the price retracing to the previous resistance turned support. It is highly likely price will test the 20EMA on the 4h and will bounce off. Upon rejection a sell trade is high probable targeting monthly...
I see the double top on usd cad and I think its good price to sell 🙂
we are going to discuss this in the future. meanwhile, here are the trades im in at the moment.
Few different scenarios I will be looking for heading into next week..
Price touched the 4 years high and the price started to fall from there. What next is the price will go further down
USDCAD bounced off 1.30425 where it could potentially rise further to 1.30950. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCAD bounced off 1.32680 where it could potentially rise further to 1.33278. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
New Times - Following a rising trend that has been on the usdcad for many months, you can see in the graph above that a descending channel is created here. The Stochastic is at the bottom of the daily graph which means we are heading for a fix but the trend will remain bearish. Target: 1.2940
USDCAD bounced off 1.33020 where it could potentially rise further to 1.33811. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCAD reversed off its resistance at 1.32137 where it could potentially drop further to 1.31650. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
See chart for illustration. This is a follow up ( see link below for reference purposes)
See chart for illustration This is a follow up from earlier publication on subject pair (see link below)
It appears price is gaining momentum in anticipation of a rally to the downside from 1.33500 zone since it has found it difficult to break this area in the last 2 weeks. Considering the present volatility in the USD currency, patience is pertinent as the price could break the 1.33500 zone up into the 1.5500 zone before the rally down. However, price action...
This is a follow up on earlier publications (see link below) Update on this pair coming up as we watch the present characteristics of price action around the 1.32200 zone
USDCAD a Huge Sell off is at play at the break of the Trend line
For the current being, i will be strongly sided towards Sell for the Downtrend. However the price is now on bullish and i assume that is retracement period is taking over. Line price of 1.3488 is the last area of resistance that if the price can break this price, i will assume that downtrend is no more valid and sideway will be taking over. I will avoid the trade...